Yousif Capital Management LLC Decreases Stock Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Yousif Capital Management LLC lessened its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 18.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,648 shares of the company's stock after selling 10,570 shares during the period. Yousif Capital Management LLC's holdings in Allegro MicroSystems were worth $998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALGM. Westfield Capital Management Co. LP grew its stake in shares of Allegro MicroSystems by 54.6% in the third quarter. Westfield Capital Management Co. LP now owns 2,014,481 shares of the company's stock worth $46,937,000 after purchasing an additional 711,185 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Allegro MicroSystems by 20.6% in the third quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company's stock worth $256,851,000 after purchasing an additional 1,884,578 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Allegro MicroSystems by 86.5% in the third quarter. Geode Capital Management LLC now owns 2,561,482 shares of the company's stock worth $59,699,000 after purchasing an additional 1,187,792 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Allegro MicroSystems in the third quarter worth about $71,289,000. Finally, Pier Capital LLC bought a new stake in shares of Allegro MicroSystems in the third quarter worth about $7,514,000. Hedge funds and other institutional investors own 56.45% of the company's stock.

Allegro MicroSystems Stock Up 4.9 %

Shares of ALGM traded up $1.27 on Tuesday, hitting $27.01. 1,730,665 shares of the stock traded hands, compared to its average volume of 2,501,959. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.00 and a current ratio of 4.91. Allegro MicroSystems, Inc. has a one year low of $18.59 and a one year high of $33.26. The company has a market capitalization of $4.97 billion, a PE ratio of -77.20 and a beta of 1.66. The business has a 50 day simple moving average of $23.30 and a 200 day simple moving average of $22.53.

Analyst Ratings Changes

Several brokerages have commented on ALGM. Wells Fargo & Company raised their price objective on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Barclays raised their price objective on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Needham & Company LLC restated a "buy" rating and issued a $30.00 price objective on shares of Allegro MicroSystems in a report on Friday, January 31st. Loop Capital started coverage on shares of Allegro MicroSystems in a report on Tuesday, November 12th. They issued a "buy" rating and a $30.00 price objective for the company. Finally, Morgan Stanley lifted their target price on shares of Allegro MicroSystems from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.70.

Allegro MicroSystems Profile

Allegro MicroSystems, Inc, together with its subsidiaries, designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.